Strategic investment targets initiative: DPIIT identifies 106 companies across sectors from 30 countries
DPIIT) has identified as many as 106 companies across sectors from 30 countries under its strategic investment targets initiative, an official said. The initiative is aimed at promoting investments in the country. The initiative was recently discussed during a meeting convened by the Commerce and Industry ministry with industry and exporters.
«An outreach was conducted through the ministry and meetings and video conferences are being set-up with leadership of these companies,» the official said, adding that under the initiative, there is also a plan to engage with people of Indian origin (PIO). The government is taking a series of measures such as reducing the compliance burden, easing foreign direct investment norms, rolling out of logistics policy, announcement of production-linked incentive scheme for 14 sectors, and easing procedures through the national single window system to promote investments into the country. The official, however, did not disclose the name of the companies and sectors.
«Both the department of commerce and the DPIIT are working together to promote trade and investments in a concerted way,» the official, who did not wish to be named, said. There are also plans to hold investment roadshows in countries like the US, Canada, the UAE, Saudi Arabia, the UK, Germany, Sweden, Japan, Taiwan and South Korea. The initiative assumes significance as Foreign Direct Investment (FDI) into India declined by 22 per cent to USD 46 billion in 2022-23.
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